Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

use the unadjusted trial balance of electric bike on December 31,2020 Problem 5-4A Adjusting entries and multi-step income statement- Use the unadjusted trial balance of

use the unadjusted trial balance of electric bike on December 31,2020

image text in transcribed

Problem 5-4A Adjusting entries and multi-step income statement- Use the unadjusted trial balance of Electric Bike on December 31, 2020. Credit Debit $ 8,300 22,865 34,800 2,515 795 3,455 76,690 $ 13,855 8,200 Cash Accounts receivable Merchandise inventory Store supplies Office supplies Prepaid insurance Equipment Accumulated depreciation, equipment Accounts payable Salaries payable Braeden Li, capital Braeden Li, withdrawals Interest income Sales Sales returns and allowances Cost of goods sold Salaries expense Rent expense Supplies expense Depreciation expense, equipment Insurance expense Totals 172,465 63,000 330 530,000 5,270 381,360 96,500 29,300 $724,850 $724,850 Required: Problem 5-4A Adjusting entries and multi-step income statement- Use the unadjusted trial balance of Electric Bike on December 31, 2020. Credit Debit $ 8,300 22,865 34,800 2,515 795 3,455 76,690 $ 13,855 8,200 Cash Accounts receivable Merchandise inventory Store supplies Office supplies Prepaid insurance Equipment Accumulated depreciation, equipment Accounts payable Salaries payable Braeden Li, capital Braeden Li, withdrawals Interest income Sales Sales returns and allowances Cost of goods sold Salaries expense Rent expense Supplies expense Depreciation expense, equipment Insurance expense Totals 172,465 63,000 330 530,000 5,270 381,360 96,500 29,300 $724,850 $724,850 Required

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

College Accounting A Practical Approach

Authors: Jeffrey Slater, Debra Good

14th Canadian Edition

0135222419, 978-0135222416

More Books

Students also viewed these Accounting questions

Question

What is an internal exchange transaction, and how is it reported?

Answered: 1 week ago

Question

Know how to create a position description

Answered: 1 week ago